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- The Securities and Exchange Commission (SEC) has issued a public advisory warning against Royal Bull Master Trading International (Royal Bull Master).
- Royal Bull Master is using social media and its own website to encourage the public to invest in it without being registered or licensed to do so.
- The SEC has warned that individuals involved in promoting or selling Royal Bull Master’s investment scheme may be held criminally liable and face fines or imprisonment. It has also advised the public not to invest in the scheme.
The Securities and Exchange Commission (SEC) has issued a consultanță publică against Royal Bull Master Trading International, also known as Royal Bull Master, following reports that the entity is using social media platforms or their own independent websites to encourage the public to invest in them.
“Based on their website, ROYAL BULL MASTER TRADING INTERNATIONAL/ROYAL BULL MASTER claims that its mission is to build the most leading online-platform worldwide, to create a living for everyone and enable people to realize their full potential. While their vision is to provide the best income opportunity for all and to make people’s lives better,” a subliniat Comisia.
According to the regulatory agency, the following products of Royal Bull Master have been considered securities in the form of an investment contract:
- Starter Plan worth ₱500.00 with a 120% return in 7 days
- Amateur Plan worth ₱5,000.00 to ₱10,000.00 with a 140% return in 15 days
- Side Ways Plan worth ₱25,000.00 up to ₱50,000.00 with a 180% return in 30 days
- Bullish Plan worth ₱100,000.00 up to ₱1,000,000.00 with a 500% return on 90 days
- Direct referral commission of 10% up to 50%
- Indirect referral commission of 1%
“In this regard, the public is made aware that an ‘investment contract,’ which is a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the scheme of ROYAL BULL MASTER TRADING INTERNATIONAL/ROYAL BULL MASTER,” a subliniat SEC.
However, selling securities like the scheme of Royal Bull Master needs to be registered with the Commission. The entity and its agents involved should also have the appropriate registration and license to sell such securities to the public.
“Based on the Commission’s database, ROYAL BULL MASTER TRADINGINTERNATIONAL/ROYAL BULL MASTER, is NOT REGISTERED as a corporation or partnership and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC).”
Aside from being unlicensed, the Commission also tagged the scheme employed by Royal Bull Master as a “Ponzi Scheme,” where the money of the new investors is used to give to the old investors as fake profit, which, according to the regulatory agency, is not a registrable security.
With this, the SEC warned all the individuals who act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, recruiters, influencers, endorsers, and enablers involved in Royal Bull Master in selling or convincing people to invest in the investment scheme being offered by the said entity, including soliciting investments or recruiting investors through the internet, may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of ₱5 million or imprisonment of 21 years or both.
The regulatory agency also highlighted that all the individuals involved in the scheme of Royal Bull Master will be reported to the Bureau of Internal Revenue (BIR) so that appropriate penalties and taxes will be assessed.
“In view thereof, the public is hereby advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by ROYAL BULL MASTER TRADING INTERNATIONAL/ROYAL BULL MASTER, and its representatives,” a concluzionat Comisia.
Pentru mai multe articole despre avizele SEC, click aici.
Acest articol este publicat pe BitPinas: SEC respinge Royal Bull Master pentru că a oferit contracte de investiții fără licență
Disclaimer: articolele BitPinas și conținutul său extern nu sunt sfaturi financiare. Echipa servește pentru a furniza știri independente, imparțial, pentru a oferi informații pentru Philippine-crypto și nu numai.
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- Sursa: https://bitpinas.com/regulation/sec-flags-royal-bull-master/
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